© Reuters.
Investing.com – US unemployment claims data is now out, which should provide further signals about the Fed’s next steps on monetary policy.
Meanwhile, unemployment claims have been relatively stable at 220,000 in 4 weeks, which is the most accurate measure of US unemployment benefits, which also explains the lack of noticeable shifts in the markets so far. It maintained its gains, while continuing its decline.
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Unemployment benefits data
It recorded 220,000 orders, lower than experts’ expectations of 222,000. Especially since it recorded 219 thousand readings last week after adjusting the reading.
Thus, it recorded 220.75 thousand in 4 weeks, after recording 220.25 thousand last week.
The weekly unemployment index provides very temporary data, quantifies the amount of individuals claiming unemployment insurance for the first time during the past week and traders view unemployment as an indicator that gives a simple indication of the future performance of the economy. A downward trend has a positive impact on a country’s currency, as workers tend to spend more money.
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Gold and dollar now
It is now rising 0.21% to $2,052 an ounce.
Meanwhile, spot gold contracts rose by 0.5% to $2,035 per ounce.
On the other hand, the dollar index fell by 0.36% to 103,720 points.
2023-12-07 13:32:00
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